Fund houses recorded strong equity inflows in June as managers increased bets on large-cap stocks and private banks. Allocations also went to select healthcare firms amid supportive market conditions.
Money managers focused on large-cap stocks that were trading below their historical averages. Private banks such as HDFC Bank and Axis Bank featured among the consistent purchases.
Healthcare companies received fresh allocations as investors sought steady growth prospects. The overall trend occurred against a backdrop of easing geopolitical tensions and softer oil prices.
These inflows reflected a preference for established sectors with relatively attractive valuations during the month.